TMI Blog2015 (10) TMI 1501X X X X Extracts X X X X X X X X Extracts X X X X ..... laim exemption under section 10B, an undertaking must have been approved by the Board appointed in this behalf by the Central Government in exercise of powers conferred by section 14 of the Industries (Development & Regulation) Act, 1951 and rules made thereunder. In this case, assessee is a unit recognized by the STPI. It was not placed on record to suggest that unit was approved by the Board appointed by the Central Government under section 14 of Industries (Development and Regulation) Act, 1951, therefore assessee is not eligible for 10B deduction. However, if the assessee is not entitled for deduction under section 10B, the claim made by the assessee under section 10A of the Act should be considered by the lower authorities. Thus we ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Act. Assessment was completed under section 143(3) of the Act on 12.12.2013 denying the claim of the assessee for deduction under section 10B of the Act. In the course of assessment proceedings, assessee submitted that assessee was claiming deduction under section 10B in earlier assessment years. During this assessment year, the assessee claimed deduction under section 10A and filed report in Form 56F as required under section 10A of the Act. It was the submission of the assessee that it satisfies all the conditions relating to section10A and therefore entitled to deduction under section 10A of the Act. The Assessing Officer while completing the assessment denied deduction stating that assessee claimed deduction under section 10B and in vi ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... n the return that claim was made under section 10B of the Act. Authorized Representative for the assessee submits that assessee satisfies all the conditions laid down under section 10A of the Act, therefore assessee is entitled for deduction under section 10A of the Act. Authorized Representative submits that as the assessee wrongly mentioned in the return that it is claiming deduction under section 10B, the lower authorities denied deduction which is not correct. Authorized Representative for the assessee submits that if the assessee is not eligible for deduction under section 10B, the lower authorities should have considered the claim of the assessee under section 10A of the Act. He places reliance on the decision of Madras High Court in ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... tion under section 10B, an undertaking must have been approved by the Board appointed in this behalf by the Central Government in exercise of powers conferred by section 14 of the Industries (Development Regulation) Act, 1951 and rules made thereunder. In this case, assessee is a unit recognized by the STPI. It was not placed on record to suggest that unit was approved by the Board appointed by the Central Government under section 14 of Industries (Development and Regulation) Act, 1951, therefore assessee is not eligible for 10B deduction. However, if the assessee is not entitled for deduction under section 10B, the claim made by the assessee under section 10A of the Act should be considered by the lower authorities. 7. The Hon ble Mad ..... X X X X Extracts X X X X X X X X Extracts X X X X
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